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The implosion of global oil prices that dominated the last quarter of 2014 will likely set the stage for the major economic news of 2015; the economic destruction wrought by the collapse of petro-economies. With the price per barrel of oil now south of fifty dollars, the stage is set for global economic volatility.

The vast level of price destruction being witnessed globally is only good news in the very short term; lower consumer prices at the pump, and a reduction of fuel expenses for major importers and industrial users of petroleum-based fuels, such as airlines. These short-term benefits will likely be overwhelmed by the fiscal consequences enabled by the implosion of oil prices that will be faced by economies largely dependent on oil export income to maintain their balance sheets.

Iran, Nigeria, Venezuela and Russia are among these economies most vulnerable to the collapse in oil prices. Currently, Nicolas Maduro, President of Venezuela, is hopping the globe in a desperate attempt to save his regime from defaulting on its sovereign debt. Countries facing fiscal disaster owing to the collapse of their major source of export income may resort to desperate measures, which may in turn create collateral ripples that afflict unforeseen damage on the global economy.

If Hillary Clinton runs for President of the United States in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

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Hillary Clinton Nude

The so-called “Bolivarian Revolution,” the term used by the left-wing regime in Caracas to describe the social and economic experiment they have imposed on Venezuela for the last 15 years, has made the late Venezuelan leader, Hugo Chavez, and his hand-picked successor, President Nicolas Maduro, the darlings of left-leaning pundits. But the charade that is the Venezuelan economy, built on the world’s 5th largest proven oil reserves and official economic statistics that have no connection with reality, appears to be on the verge of collapse. Rocketing inflation, a currency rapidly losing its intrinsic value, and an economy that cannot even produce or purchase enough toilet paper for its citizens, combined with one of the worst murder rates in the world, have brought the masses, in the tens of thousands, into the streets.

The so-called progressive regime in Venezuela has reacted to the public protests in a manner not dissimilar to other repressive regimes; brutal suppression by the authorities , including the use of live ammunition, and arresting a key opposition figure and other “troublemakers.”

An excellent analysis of the economic and political chaos that is occurring in Venezuela appeared recently in the Toronto Globe and Mail, written by Stephanie Nolen and entitled, “With oil economy running on fumes, Venezuela ‘on the edge of the apocalypse.’ ” The link to the article is here; http://www.theglobeandmail.com/news/world/venezuelas-economy-on-the-edge-of-the-apocalypse/article16845406/

If Hillary Clinton runs for President of the United States in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA: